Social Networks Not So Recession Proof
Techcrunch is reporting that hi5, the worlds third largest social network, is laying off 10 to 15 percent of their staff. Mike Trigg of hi5, told Techcrunch that the company is hiring at the same time though and there won’t be a significant change in the net number of employees at the company.
hi5’s growth has appeared to stagnate over the past few months based on both comScore data as well as Alexa data. Previously I suggested that the social networking space was practically immune to the recession since users would continue logging on to the internet daily.
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